The world's two largest chip foundries, TSMC and UMC, have posted their October sales figures - and both report double-figure growth on the previous month.

TSMC saw sales rise 11.1 per cent to $NT10.292 billion ($299.70 million), which the company was quick to highlight is a sign of the market's recovery. Some recovery: the company October sales were down 40.8 per cent on the same month last year.

UMC's sales were down 55.92 per cent over the same period, but the company did manage to knock up sales worth NT$4.722 billion last month. This represents a 12.9 per cent month-on-month increase.

For the year-to-date, UMC sold NT$55.273 billion worth of chips, down 34.16 per cent on the same period last year. TSMC's ten-month sales totalled NT$102.68 billion, down 20.6 per cent year-on-year. ®